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Buzz Bits: Dow, Nasdaq Step Up


Your daily Buzz & Banter highlights...


Editor's Note: This is a small sample of the content available on the Buzz and Banter.

Earnings Report - MV News

  • Clarcor (CLC) reports 2Q $0.41EPS vs. $0.37 cons on revs. $235.1 mln vs. $235.89 mln cons.
  • Darden Restaurants (DRI) report 4Q $0.67 EPS vs. $0.71 cons. on revs $1.46 bln vs. $1.54 bln cons.
  • Lazyboy (LZB) reports 4Q $0.10 EPS vs. $0.07 cons. on revs $406.9 mln vs. $408.40 mln cons.

Around the Horn Randoms- Jeff Macke- 3:14 PM

  • Jerry Yang's Welcome Back to Yahoo (YHOO) party may have been the shortest in history. Goldman (GS) and others are saying Yang's return suggests no deal is on the horizon. I would suggest that it's Jerry's lack of an operating track record that has the Street concerned. Either way, change is good at Yahoo.

  • AT&T (T) announces cell-to-cell video technology... but not for the Apple (AAPL) i-Phone which "operates on an older network." An older network? For the Greatest Phone since ET modified a Speak n' Spell to call home? Hmmmm...

  • Best Buy (BBY) says this is the first year over year drop in CE sales in six years but quickly dismisses the problem as temporary? Oh oh... As mentioned earlier, I can wait to buy; maybe forever.

  • Wii's lead is growing in the console war. If Nintendo (NTDOY) could keep them in stock the market share beating would really be growing. "Marketing ploy" or not, the scarcity of Wii's won't be a problem unless it runs into Christmas, from where I'm sitting.

Turn, Turn, Turn, Turn- Jeffrey Cooper- 2:44 PM

The S&P turned its daily chart down this morning, then it turned it back up, taking out yesterday's high, normally a bullish phenomena.

But, given the recent slippage and the many 'tails' in stocks, if the S&P takes out the session low it will score a three plot day or slingshot signal down, not a good omen.

As I said this AM, the N/R 7 volatility signal suggested this kind of day and whichever way the last hour goes I would heed it.

Yesterday the post op hangover was prevented from turning into a headache with Apple (AAPL) and Google (GOOG).

Today, General Electric (GE) is up nicely. Every dog has its day in the sun.

They know how to mask selling and that is what I think is going on by using GE to 'support' the index---but that's just me, I could be wrong

Sugar, Sugar- Kevin Depew- 1:39 PM

Minyan Scott asked about how I would evaluate a stock with high short interest he has been looking at, Imperial Sugar (IPSU).

My process is pretty straightforward and simple. I want to look at the stock on a point and figure chart to get a feel for the context - whether supply or demand is in control, to make sure that if I'm going to get in this rowboat that I'm going to be paddling with the stream, not against it. Then, I want to cross-reference the stock in DeMark terms to get a feel for the timing.

On a point and figure basis the stock is forming a large triangle on the 1x3 chart - a breakout would occur with a move to 33, a breakdown at 25. That's a bit too wide of a range for trading, in my opinion. So we'll need to compress the size of the boxes and take what amounts to a closer look - literally - at the stock. Compressing the box size to .5x3 we get a different view. The stock has just broken above the downtrend line on this chart that had been intact since April. That means an important shift in the supply/demand equation has taken place.

Next, I would want to cross-reference this with DeMark price exhaustion techniques to make sure that if I am going to take a position, I'm not buying into an upside exhaustion phase. Looking at IPSU on the daily and weekly charts in DeMark TD-Sequential and TD-Combo shows no upside exhaustion signals registering - good news.

More trimming...and randoms...- Fil Zucchi- 11:36 AM

  • Consistent with my plans to enjoy my extended break, I am shedding more FCStone (FCSX). The stock is up $15 (30%) in seven trading days and, while I'll leave some on, I see better odds of reloading at lower prices than getting greedy(er) with what I have.

  • My Terminix pest-control bill has gone up another $5/month (20%). That's a 50% increase in about two years. I guess either pest-control is not included in the CPI figures, or after hedonic adjustments it must mean that roaches are now the size of small mammals.

  • Harris Corp. (HRS) is jumping on the heels of a big award for military radios, something that popped on my radar (bad pun intended) a few months ago. On a risk/reward basis HRS is growing on me as one of my favorite names.

  • A few days back Prof. Cooper spotted Limelight Networks (LLNW) as a chart play. It peaked my interest because LLNW is a direct, if tiny, competitor to Akamai (AKAM) and I would not mind finding an additional play in the content delivery network space. Unfortunately, the first thing the S-1 filing discusses are the risks to LLNW from the pending patent litigation with Akamai (AKAM), patents over which AKAM has already prevailed in past actions.

  • Do you see General Electric (GE) trying to break to new 52-wk highs? Is this "reverse dandruff" projecting to $42?

Positions in FCSX, HRS, AKAM, GE, (roaches?)

No positions in stocks mentioned.

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